Oppenheimer Asset Management Inc. Has $4.54 Million Position in Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. grew its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,072 shares of the construction company's stock after purchasing an additional 9,359 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of Trex worth $4,536,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Huntington National Bank boosted its stake in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. increased its position in Trex by 55.9% in the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after acquiring an additional 408 shares in the last quarter. GAMMA Investing LLC increased its position in Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock valued at $97,000 after acquiring an additional 965 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Trex in the 4th quarter valued at about $122,000. Finally, Bessemer Group Inc. increased its position in Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Buying and Selling at Trex

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president now owns 24,569 shares of the company's stock, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president now directly owns 27,527 shares of the company's stock, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Trex Trading Up 1.2%

Shares of NYSE TREX opened at $55.88 on Wednesday. The firm's 50-day moving average is $57.04 and its 200-day moving average is $62.46. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $86.56. The firm has a market capitalization of $5.99 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 2.34 and a beta of 1.53.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. As a group, equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TREX shares. Barclays lowered their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Truist Financial lowered their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Citigroup lowered their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Wall Street Zen cut shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Trex has an average rating of "Hold" and a consensus target price of $76.65.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.